Crypto exchange operator ErisX receives the first BitLicense of the year from New York regulator
- The New York State Department of Financial Services granted its first BitLicense of the year to ErisX.
- The license allows Eris Clearing, the clearing and settlement arm of ErisX, to operate in New York legally.
- ErisX has also been approved for a money transmitter license.
The New York State Department of Financial Services (NYDFS) has granted its first BitLicense of the year to Eris Clearing, the clearing and settlement arm of ErisX. The virtual currency license permits the crypto exchange to operate in New York legally. ErisX has also been approved for a money transmitter license by the department.
Thomas Chippas, CEO of ErisX, said:
We are pleased that the New York Department of Financial Services recognized our commitment to the high standards we borrowed from existing capital markets structures and applied them to the cryptocurrency space.
NYDFS Superintendent Linda Lacewell said that the Department of Financial Services encourages technologically advanced platforms that can help the economy recover from adverse effects of the global pandemic.
Today’s approval is another step in expanding virtual currency activities in the State and promoting New York’s support for financial innovation, which will be especially important as we work to reopen the economy of the world’s financial capital.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
